The University is required by State law to maintain a current listing of all non-expendable items costing over $1000.00 and having a life expectancy of one (1) year or more, plus sensitive items that are considered attractive or easily pilfered, such as:
- Audiovisual Equipment
- Cameras and Attachments
- Power Hand Tools
- Portable Television Sets
- Tape Recorders
- Rifles and Pistols
- And any chair or table costing $50.00 or more, etc.
The inventory of each department's holdings must be verified on an annual basis. These inventories or verifications will be scheduled for each department. The extreme importance of this verification and the accuracy of the same cannot be emphasized too much. It has a direct bearing on funding for the University.
Audits will be made on the inventories reported. It is extremely important that some type of interdepartmental control be maintained on the location of all inventoried items. Such controls will not only facilitate an audit but will also make future inventories easier for departmental personnel.
For auditing purposes, care should be exercised in keeping records of circumstances surrounding missing property.
Inventory tags should be placed on all items prior to delivery to the requesting department. Should you receive an item or items that have not been tagged, notify the Property Control Office at once, giving the item, the vendor, and the purchase order number pertaining to the shipment.
No inventorable property may be disposed of in any manner except by notifying the Property Control Office in writing. After notification, the property will then be picked up and disposed of in a proper manner.
The property will then be deleted from the Department's chargeable inventory listing.
If in doubt about the disposition of any University property, contact the Property Control Office:
Any furniture items being declared surplus by any department MUST be returned to the Property Control Office. No other disposition is permissible.
The re-assignment and/or the disposal of excess and/or surplus property will be the responsibility of the Director of Purchasing.